PODCAST · business
Bolster Risk Management
by Dominic Bish
Dom Bish likes making life insurance and finance easy for you. At Bolster Risk Management, we take a down-to-earth approach, trying to take a dry topic like personal money, and making it more accessible for you.If there is a topic that you would like Dominic to discuss, or maybe you have a question about life insurance, money and personal finance that is bugging you, please let us know.
Episodes
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Bonus Minute 3: Q&A
"Do I need to declare that I smoke?" Whether you smoke cigarettes, cigars, pipes, vape, or use nicotine replacement patches (or chew nicotine gum), you need to declare this to the insurance company.
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Bonus Minute 2 - Q&A
If you don't have insurance, you'll need a full risk review to understand your current situation. If you currently have cover, then doing a full review should be done every 2-3 years, or whenever there are major 'life changes'.
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Episode 70 - Compounding Interest - Why it is of interest...
One of the things that savings, loan payments, mortgages, KiwiSaver and the Consumer Price Index have in common is Compound Interest yet most people don't know what it is and how it works. In fact, most people would say what has it got to do with me and why should I even care about compound...
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Bonus Minute 1: Q&A
Personal insurance: The policyholder versus the beneficiary. The policyholder can make decisions about the policy, and need to authorise any changes. The beneficiary receives the benefit (for example, the life insurance amount)
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Episode 69 - Women and Money
Recently we had International Women’s Day and the Financial Services Council of New Zealand (FSC) encouraged businesses to promote and discuss women and money in the finance sector. This is important and relevant but is difficult for me to write about as a man without mansplaining (wow the...
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Episode 68 - Income Protection Made Easy
I was going to call this article “IP for Dummies”, but figured there might be some trademark issues. It is not something we often think about, but what would you do if you became sick and were unable to work? You may have heard about Income Protection (or ‘IP’) already. You may know that if you…
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Episode 67 - Inflation, Savings and Life Insurance
We often hear the words ‘rising inflation’ and ‘rising interest rates’ but do we really understand these terms and the impacts they can have on us financially? What is inflation anyway and what does it have to do with the price of fish or the price of tomatoes which has received a lot of media...
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Episode 66 - KiwiSaver Confusion
We have all heard about KiwiSaver and despite having over 3 million members it would appear that confusion and lack of understanding of how it works is the most common talking point. By the end of the March 2021 financial year, New Zealanders had invested $81.6 billion dollars into KiwiSaver…
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Episode 65 - The 5 Pillars of Personal Finance
Are you using tomorrow’s money today? What happens when tomorrow comes along? Are you spending more than you earn? What if your income stops? If you are spending money today that was meant for tomorrow, then you have a problem. You will at some stage need to catch up. Are you getting the right...
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Episode 64 - 9 Things You Should Know: Mortgage Repayment Cover
Mortgage protection: What is it? Why should you have it? You have a mortgage; finances are tight because you have stretched yourself so much just to get a foot on the housing ladder. Then you get sick and cannot work for the next 2 years. What happens to your mortgage? Is your new home now at…
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Episode 63 - Not Another Covid Article – Life Insurance NZ
“What does it mean to have life insurance? What is the value in it? What is it for anyway? I’m sure it costs too much, right?” This article has nothing to do with Covid-19. Key Ideas: What does life insurance do and why would I get it? Let’s start by being average How much? What do I want, or…
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Episode 62 - Money, Stress & Wellbeing
Last week was Money Week in New Zealand. It is a good time to talk about financial wellness, resilience and financial mental health. It has a huge impact on individuals, families and communities. It also impacts on business. Productivity, absenteeism and revenue are all directly and indirectly...
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Episode 61 MONEY: Buckets & Automation
It is easy to think that good money management is all about numbers and spreadsheets. Honestly, that is only about 10% of the whole gig. The rest, yes all the rest, is made up with our behaviours and attitudes around money. How do I know? I’ve been there in the worst of times. If you have been...
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Episode 60 - Health Insurance: Why bother?
The myth is that you don’t need health insurance because of ACC, or because of the NZ public health system. Other myths are that health insurance is a waste of money or that all insurance companies are the same. This episode will challenge those myths and will help you learn how to protect…
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Episode 59 - 6 secrets you need to know before you get disability insurance
Personal insurance can be a minefield. 84% of people don’t have monthly-paying disability cover in New Zealand. 81% don’t have critical illness cover. If you were unable to work due to an accident or illness, how would your household survive financially? Do you understand why you should have...
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Episode 58 - Saving Money Made Easy
Do you struggle to save money? At the end of each month, do you wonder where all your money went? Perhaps you spend beyond your means? If so, then this podacst is for you! Discover how saving money is as much a product of the mind as well as your financial habits. And speaking of habits, you’ll…
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Episode 56 - Common Insurance Buying Mistakes
Unexpected losses can put the best-laid financial plans in turmoil. Insurance coverage is necessary to protect against unexpected costs, property loss, and disability. There are no universal answers to the question of how much insurance is enough. Situations vary. Today we are talking about...
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Episode 55 BMI - What It Is & How It Changes Your Insurance
BMI; that tool that nobody likes but everyone uses. “What is a Body Mass Index anyway and why should I care?”. And more importantly for us in this forum, what does it have to do with personal insurance? Key Points: BMI – What is it? How is it used for insurance? What are the downsides to this...
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Episode 54 - Protect Your Biggest Asset
What is your biggest asset? Unless you’re Kim Kardashian or earn a royalty income, your biggest and most enduring asset is probably your ability to earn an income. Most of us have insured our house, possessions, cars and our lives (even our phones!). But if you don’t have disability insurance…
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Episode 53 - I’m too young for insurance; you are not actually bullet-proof
If you are under 35, do you have car insurance? Maybe, but maybe not. If you do have car insurance, does your car earn you money? Do you have protection for your greatest asset? What is your greatest asset? [spoiler - it is not your car!] Key Points: Do you insure your car? Maybe, but maybe not...
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Episode 52 ACC – Do you really know what they do?
Most people who live in New Zealand have heard of ACC. But ask 10 people what it is that ACC does, and you will likely get 10 different answers. Key points: What is ACC What does ACC not do? Self-employed versus employee www.BolsterRiskManagement.com
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Episode 51 - Save for a house or do something else?
With property prices going through the roof and bank savings rates through the floor, what options do you have? If you do not currently have your own home, and you feel squeezed out of the property market before you’ve started, can you put your money to work in other ways? Key Points: Another...
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Episode 50 - Financial Capability, teach and be taught
Industry, regulators and educators lament the poor level of understanding that people in New Zealand have of basic money management. What can be done? Let’s be bold – nah, she’ll be right. Key points The time is now (yes, we are in a recession!) How bad is it? Sustained change? Education and...
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Episode 49 - Trauma Cover, it is a Smörgåsbord
Trauma cover is a great product, but there is more than one flavour. It will pay a lump sum of cash to you if you are diagnosed with a specific health condition. But with so much choice, how do you know what is right for you (and your family)? Key points What is the purpose of this type of cover?...
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Episode 48 - Your Health & yet another COVID-19 article
Yes, another article about health insurance. Why bother when in NZ we have a public system that many in the OECD covet? As good as it is, there are plenty of gaps. Key Points: We have a good Public health system but… COVID-19 The Health System you didn’t know Don’t over-insure...
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Episode 47 - KiwiSaver: Low fees, yet you still want advice with that...?
We hear a lot in media sources about high fees for KiwiSaver. We also hear how people are not getting enough advice about financial products like KiwiSaver. Who is correct? Key Points: What do your pay for? What the Regulators (and industry) want Who decides? www.BolsterRiskManagement.com
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Episode 46 - “What is the Risk of Losing?”
I was this asked a great question recently. For all the talk of KiwiSaver-this and investments-that, what does it actually mean for my dollar? How much do I put in for what return? Here we come that wonderful world of ‘Risk’. What is ‘risk’ and what does it mean in everyday language? KEY POINTS:...
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Episode 45 - Indemnity versus Agreed Value (& ACC for self-employed)
Monthly paying disability payments. It can be great cover. It can also be a minefield. What is agreed value? What does indemnity mean? And why is ACC in the title?? Key Points: Purpose of disability insurance Indemnity versus Agreed Value ACC, yes it is an insurance firm...
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Episode 44 - How Distressing is Financial Distress?
Mental health awareness week was here in NZ recently. Money stress affects 22% of people every day. A further 25% worry about money weekly. Anxiety comes from looking at the future and being uncertain, of not being able to clearly see the way ahead. It is easier to ‘stick the head in the ground’...
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Episode 43 - How much do Financial Advisers Make?
“Loads of doh” or “too much” maybe your first thought. How much is “too much”? Money is a representation and transfer of value. What is value in this instance? Is the job that is done by the insurance agent, sufficient to reduce the ‘pain’ for the client and therefore solves that client’s…
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Episode - 42 - Can someone else flick the lights off on your behalf?
You get munted in a car crash. You’re on life support for 6 months. Your spouse can’t access your personal insurance because technically you are still alive, but you are in a coma and cannot sign the policy. You are a policy owner and the insurance company need all policy owners to sign before…
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Episode 41 - How ‘Permanent’ is Total & Permanent Disability?
TPD, as it is sometimes known, is a work-dependent benefit. This means that it pays if you are never able to work again. That is the permanent part. But - there is a ‘but’, it may not be entirely that permanent. Confused? Good, now you can read on and I’ll explain. Key Points: What is TPD? What…
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Episode 40 - What is a ‘wealth’ mindset?
The Richest Man in Babylon is a small book that sets out a nice narrative showing people how to build and protect wealth. There are two overlapping themes in the book “Seven Cures for a Lean Purse” and “Five laws of gold’. It is an old classic by George S. Clason from 1926 that helps to cement…
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Episode 39 - Life Insurance, it is pretty boring
Buying life insurance is not like buying a pair of sexy shoes. You can’t wear your life insurance policy like a fashion item. You can’t drive it like a new car from a dealer. You can’t eat it like fine food at a restaurant. No, life insurance is pretty boring. Key Takeaways: You may not like it,...
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Episode 38 - How Long Before Insurance Companies Pay Up?
Some of the people I talk with wonder how quickly insurance companies pay claims. As with many things to do with personal insurance, that answer is ‘it depends’. Different insurance products have different claims requirements. Also, as we’ve seen recently in the news with Westpac, not all…
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Episode 37 - Unlocked KiwiSaver – what is it?
In a recent article I mentioned ‘unlocked KiwiSaver’ products. It would be remiss of me to not explain what these are. For people outside of New Zealand, KiwiSaver is similar to Australia’s Superannuation or perhaps the 401K in the US. For KiwiSaver, members are not allowed to make a withdrawal…
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Episode 36 - KiwiSaver: Passive/ Active & fees?
Recently I put my nose into the debate around passive versus active investing. In my comment on the article pondered why the choice should be so binary, one or the other? In my observation of investments, the prudent path always seems to be one of diversification. The old euphemism of not having...
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Episode 35 - I use marijuana, can I get insurance?
MaryJane is not everyone’s choice, but for those who partake, are they punished by the insurance companies? Not necessarily. What does the occasional toke mean for users and their personal protection plans? Listen to find out. www.bolsterriskmanagement.com
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Episode 34 - What Is The Best Age To Get Life Insurance?
The younger the better. Simple answer. You don’t need to listen to anything else. www.bolsterriskmanagement Find out more on Facebook, Linkedin & Twitter
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Episode 33 - Recession is the time to sort your $
In a recession, nearly everyone is worried about money. We know that 23% of kiwi’s worry about money daily. In fact, 62% worry about money at least monthly or less. That is in normal times. Now is the time to sort your money and insurance. For more go to www.bolsterriskmanagement.com or, leave a...
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Episode 32 Compound Interest - is it interesting?
One of the major religions banned its use due to the power it welds. Einstein said something along the lines of compound interest is having more relevance on HUMAN KIND than his theory of relativity. Use The Force wisely... www.bolsterriskmanagement.com
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Episode 31 - How realistic is Monopoly?
I love monopoly. I think it is a great game and tool to demonstrate some basics concepts about money and purchasing and trading. However, it is a bit of a set-up - don't you think? You start with $1500. The value of the most expensive property is $400. That means that you are starting with a…
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Episode 30 - Pre-existing health conditions - "Companies will run a mile...!"
A friend on mine recently asked me “How do I get insurance with my pre-existing conditions - the insurance companies will run a mile when they look at my situation…?” www.bolsterriskmanagement.com A New Zealand Company helping financial literacy one bit at a time
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Episode 29 - FSC research report - kiwis need help
It's not just me saying it, there is research to back up what I am saying...the Financial Services Council with their latest report. It is all about New Zealanders, and our thoughts and attitudes towards money, insurance and investing. If you are Generation X Y or Z, therefore anyone who is under...
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Episode 28 - For the Good of Your Health…Insurance!
Health insurance - keep it simple - cover the big stuff. Don't start dollar-swapping. There seems to be a lot of confusion out there around health insurance – not so much around providers, or even product. More around, with NZ’s world-class FREE public health system, do you really need health...
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Episode 27 - "Can I keep my cover if I plan to live& work overseas?
Another question from a listener - "Can I keep my cover if I plan to live& work overseas? There are a few things to unpack from this question, to make sure that we answer it correctly. www.bolsterriskmanagement.com A New Zealand Company
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Episode 26 - "Can I still get insurance if I am planning on getting pregnant?"
One of our listeners ask this question "Can I still get insurance if I am planning on getting pregnant?" Great question, and before I answer that, please feel free to ask your own questions, if there is some that you want to hear about. www.bolsterriskmanagement.com A New Zealand Company
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Episode 25 - CPI – A major reason for your policy going up in price so drastically
Adding CPI is a good idea because we know that the value of money goes down over time. Think about how much a Big Mac (a beer, a pack of smokes, a loaf of bread…) cost you 10 years ago, versus today? Part of the thinking for the insurance providers is to make sure that your sum insured keeps pace...
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Episode 24 - Insurance Stack and the Budget Pizza
So you might have heard me talk before about the insurance stack and the budget pizza so I'm just going to go back through it again. This is a good way to help people to visualise how they might determine which type of product is more relevant to them at this time, according to their budget.…
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ABOUT THIS SHOW
Dom Bish likes making life insurance and finance easy for you. At Bolster Risk Management, we take a down-to-earth approach, trying to take a dry topic like personal money, and making it more accessible for you.If there is a topic that you would like Dominic to discuss, or maybe you have a question about life insurance, money and personal finance that is bugging you, please let us know.
HOSTED BY
Dominic Bish
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Frequently Asked Questions
How many episodes does Bolster Risk Management have?
Bolster Risk Management currently has 73 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
What is Bolster Risk Management about?
Dom Bish likes making life insurance and finance easy for you. At Bolster Risk Management, we take a down-to-earth approach, trying to take a dry topic like personal money, and making it more accessible for you.If there is a topic that you would like Dominic to discuss, or maybe you have a question...
How often does Bolster Risk Management release new episodes?
Bolster Risk Management has 73 episodes. Check the episode list to see recent publication dates and frequency.
Where can I listen to Bolster Risk Management?
You can listen to Bolster Risk Management on PodParley by clicking any episode. We provide an embedded audio player for direct listening, and you can also subscribe via your preferred podcast app using the RSS feed.
Who hosts Bolster Risk Management?
Bolster Risk Management is created and hosted by Dominic Bish.
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